Primecap Management Co. CA trimmed its holdings in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,202,250 shares of the company's stock after selling 86,900 shares during the quarter. Primecap Management Co. CA owned approximately 0.39% of Zoom Video Communications worth $98,116,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of ZM. Crossmark Global Holdings Inc. acquired a new position in shares of Zoom Video Communications in the 3rd quarter valued at $203,000. Metis Global Partners LLC grew its position in Zoom Video Communications by 7.1% in the 3rd quarter. Metis Global Partners LLC now owns 4,046 shares of the company's stock valued at $282,000 after buying an additional 267 shares during the last quarter. CIBC Asset Management Inc grew its position in Zoom Video Communications by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 9,108 shares of the company's stock valued at $635,000 after buying an additional 467 shares during the last quarter. Claro Advisors LLC purchased a new position in Zoom Video Communications in the 3rd quarter valued at $276,000. Finally, Swiss National Bank grew its position in Zoom Video Communications by 1.3% in the 3rd quarter. Swiss National Bank now owns 743,300 shares of the company's stock valued at $51,838,000 after buying an additional 9,400 shares during the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently weighed in on ZM. Barclays lowered their price objective on shares of Zoom Video Communications from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus decreased their target price on shares of Zoom Video Communications from $90.00 to $85.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. Rosenblatt Securities reiterated a "buy" rating and issued a $95.00 price objective on shares of Zoom Video Communications in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of Zoom Video Communications from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 18th. Finally, Citigroup decreased their price objective on shares of Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 18th. Fifteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $89.33.
Read Our Latest Report on Zoom Video Communications
Zoom Video Communications Stock Performance
ZM traded down $0.06 on Friday, reaching $75.97. 6,268,809 shares of the company's stock were exchanged, compared to its average volume of 3,037,167. The company's 50 day moving average is $79.98 and its 200-day moving average is $77.82. The company has a market cap of $23.19 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a twelve month low of $55.06 and a twelve month high of $92.80.
Insider Buying and Selling
In other Zoom Video Communications news, Director Jonathan Chadwick sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total value of $2,008,250.00. Following the completion of the transaction, the director now owns 1,514 shares in the company, valued at $121,619.62. This represents a 94.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric S. Yuan sold 75,531 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total value of $5,663,314.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 369,271 shares of company stock valued at $29,496,892. 10.78% of the stock is currently owned by corporate insiders.
About Zoom Video Communications
(
Free Report)
Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.
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